New development is not dead, as Chelsea Senior Living and global real estate developer Trammell Crow Company teamed up to open a brand-new assisted living/memory care community in Fair Lawn, New Jersey. In this current environment, most agree that the only developments that work are high-end communities in high-barrier-to-entry markets where intense competition and pressures on staffing costs are less. Most lenders certainly agree with that, too, and The Chelsea at Fair Lawn is located in an affluent suburb of New York City. Not only that, it is the borough’s first assisted living/memory care community.
The three-story community opened in September 2023 with 67 units. Residents can receive concierge services, expert clinical care and on-site therapy services from Fox Rehab. There is also a movie theater, social lounges, a fitness center, themed parties and group trips. It is located across the street from Chelsea’s 26-unit independent living community, which opened in March 2023.
On top of these two recent developments, Chelsea is also set to open The Chelsea at Washington Township, an assisted living/memory care community in Bergen County, New Jersey, by the end of 2023.
